​Are you self-employed? Or do you own your own business? If so, you likely have a lot of challenges on your plate. You have to provide great service to your customers, prospect for new customers and manage your company’s cash flow. You also may have to manage your employees, develop new products and services and work to achieve your long-term goals. As a business owner, you probably wear many different hats.
 
Retirement may be one challenge that isn’t on your radar. Many business owners assume they can work as long as they want. They funnel their energy and resources into their business rather than plan for the future.
 
However, retirement is too important to ignore. You may not be able to work forever, and you may not be able to sell your business to fund your retirement. It’s always helpful to have assets set aside for retirement. Also, a business retirement plan may be a helpful tool to attract new employees.

​According to the U.S. Department of Health and Human Services, most seniors will require long-term care at some point in their lives. The department estimates that today’s 65-year-olds have a 70 percent chance of needing long-term care at some point.1 As you might guess, long-term care can be costly and financially challenging. Without a plan in place, you could struggle to pay for the care you need.
 
Long-term care insurance is one tool you may want to consider to minimize the financial impact. You pay premiums to an insurer. Then, when you need care in the future, the insurer pays some or all of your long-term care costs. Policies can vary greatly in terms of cost and coverage. You may find the options overwhelming.
 
If you understand the parts of long-term care insurance, however, you can better analyze your choices. Below are descriptions of a few key components of every long-term care policy. A financial professional can also help you find the right policy for you.

​ARNOLDS PARK, Iowa (July 9, 2018) – As an extension to his commitment to service and placing the needs, goals and desires of others first, Carstens Financial Group is proud to announce the return of the fourth-annual Carstens Financial Group Charity Pro-Am. 

​This year’s Pro-Am, benefitting the Wounded Warrior Project (WWP), will be held August 6 and August 7, at Emerald Hills Gold Club in Arnolds Park. The Pro-Am will feature professional golfers from The Dakota Tour, a 19-event professional golf tour played in the Midwest states of Minnesota, Iowa, Nebraska, Wyoming and North and South Dakota. Players will be paired with up to 80 amateurs during the Pro-Am. 

​Retirement income that’s guaranteed for life can be a valuable resource. It provides you with financial certainty so you can make informed spending decisions. Guaranteed income isn’t impacted by market volatility, which could reduce your anxiety about the future. Best of all, you can’t outlive guaranteed income, so there’s no risk of running out of money in the later years of retirement.
 
Unfortunately, guaranteed retirement income isn’t as common as it used to be. Most retirees can count on Social Security benefits, which are guaranteed for life. For most people, however, Social Security is likely to be insufficient to fund a full retirement. Pensions are also disappearing from employer benefit offerings. Many retirees will likely have to rely on withdrawals from savings to pay for their retirement expenses.
 
However, you have the option to create your own stream of guaranteed lifetime income by using an annuity, specifically something called a single premium immediate annuity (SPIA). A SPIA is an insurance policy in which you convert a lump sum of assets into an income stream that lasts for a specified period of time, usually life. SPIAs aren’t right for everyone, but they can be helpful tools for some retirees.

​For many, self-employment is a dream come true. You get to set your own schedule and make your own rules, and you may even get to do something you love for a living. If you’re like most entrepreneurs, your self-employment is the result of years of hard work and planning.
 
While self-employment may be fulfilling, it can also create unique challenges, especially when it comes to retirement planning. You don’t get the benefit of an employer 401(k) or pension. You may face tough decisions about whether to save for retirement or reinvest in your business. You may face cash flow challenges that make it difficult to save.
 
The good news is, as a self-employed individual, you have options that aren’t available for traditional employees. In fact, you may be able to put large sums away on a tax-advantaged basis each year. Below are a few popular vehicles you can use to save for retirement: